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Another Wells Fargo Team Heads to Snowden Lane for Non-U.S. Biz Advisor Alfredo Garcia decided to move to Snowden Lane after Wells Fargo announced in January it would stop catering to international clients, which make up a majority of his book. Snowden Lane has recruited another team from Wells Fargo Advisors. Alfredo Garcia, who managed over $100 million in assets under management, decided to make the move to Snowden Lane after Wells Fargo announced in January it would stop catering to international clients. “That took us by surprise, and it took a while for us to regroup and try to find strategies as to what would be our future,” said Garcia, who joins Snowden Lane’s New York headquarters. ....
Snowden Lane looks to bring on more advisors fleeing firms that put restrictions on international clients. Snowden Lane added the Ureña Wealth Management Group to its roster of advisors, pulling the advisors from Wells Fargo, the firm announced Monday. The move comes in the wake of Wells’ announcement that it would jettison its international wealth management business. Snowden’s latest recruit, Miami-based Ureña Wealth Management, run by Armando Ureña, managed $360 million in client assets at Wells Fargo. Half of it was focused on offshore accounts and international clients, mainly in Latin America. When Wells Fargo announced in January that it would no longer provide services to clients abroad, Wells’ advisors had to decide whether to part ways with those clients or find a new home. Ureña said he had already been in contact with the leaders of Snowden Lane and was prepared to make the jump. ....
Wells' Retreat From Non-US Biz Prompts Miami Advisor to Snowden Lane wealthmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wealthmanagement.com Daily Mail and Mail on Sunday newspapers.